Abu Dhabi Ports, MSC to Jointly Work on Blockchain Solution
- Business & Finance
Abu Dhabi Ports subsidiary, Maqta Gateway, has unveiled its plans to start testing of its blockchain solution Silsal with a maritime operator in partnership with Mediterranean Shipping Company (MSC).
Silsal provides a seamless and secure link between stakeholders across the trade community using the electronic ledger system, according to Abu Dhabi Ports.
MSC would provide information and feedback on the international pilot project, which is set to test the capabilities of the technology to exchange, identify, and acknowledge cargo documents and certificates between Abu Dhabi Ports and other ports.
“The vision of the UAE Leadership is for our nation to become a world leader in adopting blockchain, as per UAE Blockchain Strategy 2021, transforming digital transactions and saving time, effort and resources on a huge scale,” Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, said.
“This innovative pilot project should help pave the way for improved documentation flows and streamline supply chains for companies,” Andre Simha, Chief Information Officer at MSC Mediterranean Shipping Company, said.
As part of the pilot project, Maqta Gateway will use Silsal to run a Proof of Concept test for the handling of international trade documentation using blockchain technology.
First unveiled in June 2018, Silsal has been rolled out in phases and would be offered first to freight forwarders and their customers, and subsequently extended to the rest of the trade community as a complementary tool to Maqta Port Community System, Abu Dhabi Ports explained.